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Can eBay Justify A $45 Billion Valuation If GameStop’s Bid Falls Through?

eBay has emerged as the center of fresh takeover speculation after reports indicated that GameStop is preparing a potential offer for the online marketplace as soon as later this month. The development triggered an immediate market reaction, with eBay’s shares rising more than 10% to 15% in after-hours trading, reflecting investor focus on the possibility of a transformative transaction. GameStop, led by Ryan Cohen, has reportedly been building a stake in eBay ahead of a possible bid, even though eBay’s market value of roughly $45 billion to $46 billion is several times larger than GameStop’s approximately $11 billion to $12 billion valuation. The potential move comes as Cohen looks to expand GameStop beyond video games and collectibles, backed by a sizable cash balance and a compensation structure tied to major market-cap milestones.